The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Ghana's fleet-footed operator

The tough route to quality

Surviving the Asian typhoon

Poland picks a popular private path

Investec's 60-fold leap in value

Mashreq's Gulf War remedy

Ghana's third-largest bank by assets and deposits, Social Security Bank (SSB), is the most serious local competitor to Standard Chartered and Barclays. It operates 39 branches and boasts an aggressive marketing strategy.

Its search for a foreign strategic partner was successfully concluded in February 1997, when a consortium of emerging-market investment funds, led by London-based Blakeney Management, acquired a 52% stake in the bank. The consortium also included George Soros's Quantum Fund, Alliance Capital, Morgan Stanley Asset Management and JP Morgan Investment Management which were among the first investors following the opening of Ghana's stock exchange to foreigners in 1993.

"We were attracted by the good management," says Joe Denby, private-equity manager at Blakeney, which had closely tracked SSB's fortunes over three years before buying its stake. "I'm unconvinced that there is a better bank manager in Ghana than [managing director] Pryce Kojo Thompson."

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree